Capstone Asset Management Co. increased its position in shares of F.N.B. Corporation (NYSE:FNB) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,999 shares of the bank’s stock after buying an additional 920 shares during the period. Capstone Asset Management Co.’s holdings in F.N.B. Corporation were worth $208,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in F.N.B. Corporation during the fourth quarter worth about $38,126,000. Russell Investments Group Ltd. acquired a new stake in shares of F.N.B. Corporation during the fourth quarter valued at $37,467,000. The Manufacturers Life Insurance Company acquired a new stake in shares of F.N.B. Corporation during the third quarter valued at $28,390,000. FMR LLC increased its stake in shares of F.N.B. Corporation by 53.8% in the fourth quarter. FMR LLC now owns 5,956,300 shares of the bank’s stock valued at $95,480,000 after buying an additional 2,082,800 shares during the last quarter. Finally, State Street Corp increased its stake in shares of F.N.B. Corporation by 20.6% in the fourth quarter. State Street Corp now owns 12,140,607 shares of the bank’s stock valued at $194,612,000 after buying an additional 2,071,622 shares during the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.
Shares of F.N.B. Corporation (NYSE FNB) traded down 0.85% during midday trading on Monday, hitting $14.01. The stock had a trading volume of 2,418,756 shares. The stock has a 50 day moving average price of $13.99 and a 200-day moving average price of $14.96. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 19.14 and a beta of 0.95. F.N.B. Corporation has a 52 week low of $11.69 and a 52 week high of $16.43.
F.N.B. Corporation (NYSE:FNB) last released its quarterly earnings results on Tuesday, April 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. F.N.B. Corporation had a return on equity of 7.21% and a net margin of 18.06%. The firm had revenue of $227.90 million for the quarter, compared to the consensus estimate of $231.73 million. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts anticipate that F.N.B. Corporation will post $0.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Tuesday, May 30th. F.N.B. Corporation’s dividend payout ratio is 64.00%.
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Several analysts have weighed in on the company. Jefferies Group LLC set a $18.00 target price on F.N.B. Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. BidaskClub raised F.N.B. Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Raymond James Financial, Inc. assumed coverage on F.N.B. Corporation in a research note on Tuesday, June 13th. They set a “strong-buy” rating and a $19.00 target price on the stock. Zacks Investment Research raised F.N.B. Corporation from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. Finally, ValuEngine downgraded F.N.B. Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.94.
In other F.N.B. Corporation news, insider Gary L. Guerrieri sold 19,000 shares of F.N.B. Corporation stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $14.17, for a total value of $269,230.00. Following the sale, the insider now owns 55,707 shares of the company’s stock, valued at approximately $789,368.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.21% of the company’s stock.
About F.N.B. Corporation
F.N.B. Corporation is a financial holding company. The Company operates through four segments: Community Banking, Wealth Management, Insurance and Consumer Finance. Its Community Banking segment consists of First National Bank of Pennsylvania (FNBPA), which offers services, including commercial and individual demand, savings and time deposit accounts and commercial, mortgage and individual installment loans.
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